Kovack Advisors Inc. Purchases New Stake in Chevron Co. (CVX)

Kovack Advisors Inc. purchased a new stake in Chevron Co. (NYSE:CVX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 28,137 shares of the oil and gas company’s stock, valued at approximately $3,522,000. Chevron comprises about 1.8% of Kovack Advisors Inc.’s holdings, making the stock its 7th biggest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. Deschutes Portfolio Strategy LLC grew its stake in Chevron by 0.5% in the 2nd quarter. Deschutes Portfolio Strategy LLC now owns 2,889 shares of the oil and gas company’s stock valued at $301,000 after purchasing an additional 13 shares during the period. Regis Management CO LLC grew its stake in Chevron by 0.4% in the 2nd quarter. Regis Management CO LLC now owns 3,269 shares of the oil and gas company’s stock valued at $341,000 after purchasing an additional 14 shares during the period. Keel Point LLC grew its stake in Chevron by 0.5% in the 2nd quarter. Keel Point LLC now owns 2,759 shares of the oil and gas company’s stock valued at $288,000 after purchasing an additional 14 shares during the period. FCG Advisors LLC grew its stake in Chevron by 0.4% in the 2nd quarter. FCG Advisors LLC now owns 3,907 shares of the oil and gas company’s stock valued at $408,000 after purchasing an additional 15 shares during the period. Finally, Intellectus Partners LLC grew its stake in Chevron by 1.0% in the 2nd quarter. Intellectus Partners LLC now owns 1,557 shares of the oil and gas company’s stock valued at $162,000 after purchasing an additional 15 shares during the period. 64.98% of the stock is owned by institutional investors and hedge funds.

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A number of research analysts have issued reports on the company. Vetr downgraded Chevron from a “buy” rating to a “hold” rating and set a $134.35 price objective for the company. in a research note on Thursday, January 11th. Wells Fargo increased their price target on Chevron from $138.00 to $153.00 and gave the stock an “outperform” rating in a research note on Thursday. They noted that the move was a valuation call. Zacks Investment Research upgraded Chevron from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a research note on Wednesday, December 27th. Credit Suisse Group reiterated a “neutral” rating and set a $130.00 price target (up previously from $123.00) on shares of Chevron in a research note on Tuesday, January 23rd. Finally, BNP Paribas upgraded Chevron from an “underperform” rating to a “neutral” rating in a research note on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $131.29.

Shares of NYSE CVX opened at $119.92 on Monday. Chevron Co. has a 52 week low of $102.55 and a 52 week high of $133.88. The company has a quick ratio of 0.83, a current ratio of 1.03 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $227,759.48, a price-to-earnings ratio of 32.41, a P/E/G ratio of 2.33 and a beta of 1.16.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.54). Chevron had a net margin of 6.49% and a return on equity of 5.22%. The business had revenue of $37.62 billion during the quarter, compared to analysts’ expectations of $38.43 billion. During the same period in the previous year, the business earned $0.22 EPS. The business’s revenue was up 19.4% on a year-over-year basis. equities analysts forecast that Chevron Co. will post 6.39 earnings per share for the current fiscal year.

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Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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